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Article: Employer health costs worse than budgeted. (Focus: Health Care).
- Article from:
- Westchester County Business Journal
- Article date:
- March 17, 2003
CopyrightCOPYRIGHT 2003 Westfair Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Despite significant increases over the past few years, health care benefit costs escalated even more than employers had projected in their budgets last year. And with few expressing confidence in their ability to control costs, most large employers are now resorting to traditional cost-sharing and other cost-control tactics, according to an annual survey report released by Watson Wyatt Worldwide and the Washington Business Group on Health (WBGH).
The Eighth Annual Watson Wyatt/WBGH Survey found that nearly half (45 percent) of the employers surveyed reported their health care costs exceeded their budget in 2002. Furthermore, health care costs are expected to jump ...